Singapore Jan private home sales fall 72.1% year-on-year

SINGAPORE - Sales of private homes by developers in Singapore fell 72.1 per cent in January compared to a year earlier, government data showed on Monday.

Data compiled by the Urban Redevelopment Authority showed developers sold 565 units last month, down from 2,028 units in January 2013.

However, the level of sales still marked a rebound from the 259 units sold in December 2013.

A series of measures to cool the property market have dented activity in the housing market in Singapore, with property prices falling 0.9 per cent in the fourth quarter of 2013, their first drop in almost two years.

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